Itron (NASDAQ:ITRI) Receives “Buy” Rating from Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Itron (NASDAQ:ITRI) in a report published on Tuesday morning, Benzinga reports. They currently have a $102.00 target price on the scientific and technical instruments company’s stock.

A number of other brokerages also recently commented on ITRI. TheStreet upgraded Itron from a c rating to a b- rating in a research report on Monday, February 26th. Oppenheimer upgraded Itron from a market perform rating to an outperform rating and set a $81.00 price objective on the stock in a research report on Friday, January 19th. Piper Sandler reduced their price objective on Itron from $105.00 to $103.00 and set an overweight rating on the stock in a research report on Thursday, April 11th. Canaccord Genuity Group upgraded Itron from a hold rating to a buy rating and lifted their price objective for the stock from $68.00 to $105.00 in a research report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. lifted their target price on Itron from $77.00 to $92.00 and gave the company a neutral rating in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $97.60.

Itron Stock Performance

Shares of NASDAQ:ITRI opened at $95.75 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.43. The business’s 50 day moving average price is $89.37 and its 200-day moving average price is $75.78. The firm has a market capitalization of $4.39 billion, a PE ratio of 45.60, a P/E/G ratio of 1.05 and a beta of 1.41. Itron has a 1 year low of $50.97 and a 1 year high of $97.84.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Monday, February 26th. The scientific and technical instruments company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.48. Itron had a return on equity of 12.27% and a net margin of 4.46%. The firm had revenue of $577.17 million for the quarter, compared to the consensus estimate of $569.90 million. During the same quarter last year, the business posted $0.71 earnings per share. The firm’s revenue was up 23.5% compared to the same quarter last year. As a group, equities research analysts expect that Itron will post 3.61 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Donald L. Reeves III sold 383 shares of Itron stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the sale, the senior vice president now directly owns 8,708 shares of the company’s stock, valued at $656,321.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Donald L. Reeves III sold 383 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $28,866.71. Following the completion of the transaction, the senior vice president now directly owns 8,708 shares of the company’s stock, valued at approximately $656,321.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerome J. Lande sold 14,896 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total value of $1,418,844.00. Following the transaction, the director now directly owns 5,750 shares of the company’s stock, valued at $547,687.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,467 shares of company stock valued at $2,752,520. 1.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Itron by 32.7% during the 1st quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock worth $45,000 after acquiring an additional 121 shares in the last quarter. Contravisory Investment Management Inc. lifted its holdings in shares of Itron by 61.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 131 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in shares of Itron by 0.4% in the 4th quarter. Natixis Advisors L.P. now owns 31,458 shares of the scientific and technical instruments company’s stock valued at $2,375,000 after purchasing an additional 139 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Itron by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 12,933 shares of the scientific and technical instruments company’s stock valued at $783,000 after purchasing an additional 180 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Itron by 0.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 41,337 shares of the scientific and technical instruments company’s stock valued at $2,504,000 after purchasing an additional 180 shares during the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

About Itron

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.